Can KISHU be a Multibagger Pick for Investors in the Future?

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  • The Kishu Inu crypto is trading with a circulating supply which makes up 93.17% of the max supply.
  • In the last 30 days, the trading price of the KISHU crypto has declined by 23%.
Can KISHU be a Multibagger Pick for Investors in the Future?
Source: CoinMarketCap

Kishu Inu (KISHU) is a meme cryptocurrency inspired by Dogecoin and other dog-themed coins. It has a community-focused ecosystem that includes a decentralized exchange, an NFT marketplace, and a wallet tracker. KISHU holders can swap, stake, and collect digital items using the KISHU token.

The Kishu Inu token has a fully diluted market cap of $25.997 Million. The circulating supply of the crypto is 93,172.09 Trillion KISHU while the total supply is 96,772.15 Trillion KISHU. 

Additionally, the max supply of the crypto is 100,000 Trillion KISHU and the volume/market ratio of the crypto is 1.75%. The market cap of the Kishu Inu crypto is $24.26 Million, which has increased by 4.2% in the last 24 hours.

The trading volume of the crypto has declined by 8.8% in the last 24 hours and the market cap ranking of the crypto is 683rd, as per CoinMarketCap. The token has a total of 262.1K holders and the total transfers recorded is 806.4K.

Kishu Inu Derivatives Analysis

Can KISHU be a Multibagger Pick for Investors in the Future?
Source: Coinglass

The Kishu Inu crypto is trading with a long/short ratio of 0.9283 and the long liquidation for the crypto is worth $789.05. 

The open interest of the crypto has decreased by 2.7%, resulting in a value of 274.89K and the trading volume has also declined by 24.8%, resulting in a value of $389.7K in the last 24 hours.

KISHU Crypto Technical Analysis

Source: KISHU/USD Chart By Tradingview

The KISHU crypto price is forming a lower low pattern on the weekly chart which indicates lower swing highs on the chart. Furthermore, the price of the crypto is forming lower highs on the chart.

The current trend of the KISHU crypto is clearly bearish, which indicates the possibility of a further decline in the price.

KUSH/USD Chart by TradingView

The EMAs on the chart seem to be reversing to the bearish side as the 50-day EMA is crossing the 200-day EMA from the higher side. The price of the crypto has declined below the 200-day EMA, indicating strong weakness. 

The MACD is also giving a sell signal on the charts by forming a bearish cross of the MACD and signal lines declining below the zero level. 

The RSI, on the other hand, is pointing to uncertainty and is at the 100 level. This denotes no meaning in terms of price momentum.

Summary

Kishu Inu is a meme crypto with a low market cap and high supply. The crypto has been losing value and volume in the past month. The technical analysis shows a bearish trend with negative indicators. The KISHU crypto does not seem to be a multibagger pick for investors in the near future despite its lucrative price.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

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